TKF Burnside Real Estate Partners has completed the purchase of 360 Hamilton Ave., a Class A office tower totaling 400,000 square feet in White Plains, NY. The real estate investment and operating company was founded by industry veterans Ric Clark and Dennis Friedrich, both formerly senior executives at Brookfield. Financial terms of the transaction were not disclosed, but the deal marks TKF Burnside’s second acquisition within a year.
TKF Burnside handled its side of the transaction internally, with Dave Hou representing the firm. The sellers, whose identities were not revealed, were represented by Newmark’s Kevin Welsh and Charles Han. In addition to the investment sale representation, Newmark’s Chris Kramer and Tim Polglase advised TKF Burnside on the acquisition financing.
The property at 360 Hamilton Ave. has a history as an office location for major corporate users. It was once occupied by IBM and today is leased to a roster of prominent tenants, including Merrill Lynch, Skadden, Arps, Slate, Meagher & Flom LLP, Heineken USA and Bank of America, among others. The building’s Class A designation and existing tenant mix position it as a significant office asset within the White Plains business district.
Following the acquisition, TKF Burnside plans to upgrade 360 Hamilton Ave. by modernizing and enhancing the property’s amenity offerings. While specific improvement plans and timelines were not disclosed, the firm signaled its intent to refresh the building to align with current workplace and tenant expectations.
Commenting on the broader market context, Ric Clark noted that the New York City office sector is showing signs of meaningful recovery and that this improvement is beginning to extend into nearby business districts. He highlighted White Plains’ growing residential base, as well as its restaurant scene, street-level activity, walkability and relative affordability, as factors that align with the preferences of today’s workforce. According to Clark, these characteristics make the city an appealing location for employers and an attractive market for office investment.
The acquisition of 360 Hamilton Ave. reinforces TKF Burnside’s strategy of targeting institutional-quality office properties in key business hubs. By pairing a stabilized tenant roster with a planned amenity refresh, the firm is positioning the asset to compete for demand generated as companies evaluate locations both within New York City and in proximate urban centers like White Plains.
